RES 06-001
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RESOLUTION NO. 06-01
A RESOLUTION OF THE CITY OF ELK RIVER
A RESOLUTION DESIGNATING DEPOSITORIES OF CITY FUNDS
WHEREAS, Minnesota Statutes Section 118 sets forth the procedures for the
deposit of public funds and it is necessary for the Elk River City Councilor
city treasurer to annually designate a bank (or banks) as the official
depository for city funds and manage the collateral pledged to such
funds.
BE IT RESOLVED, by the City Council of the City of Elk River that the
following named banks are hereby designated as the City's official
depositories for the funds of the City of Elk River, Minnesota for 2006:
1.
2.
3.
4.
5.
6.
First National Bank of Elk River
4M Fund
Wells Fargo
The Bank of Elk River
US Bank
Riverview Community Bank (in Otsego)
BE IT FURTHER RESOLVED that the city treasurer may recommend that
additional depositories be designated for purposes of investing city funds.
Passed and adopted by the City Council of the City of Elk River this 9th day
of January, 2006.
ATIEST:
.~J~
n Schmidt, City Clerk
2006-01